Staying Strong in a World of Changes
RIO DE JANEIRO, Brazil, April 24 /PRNewswire-FirstCall/ -- Companhia Vale do Rio Doce (Vale) showed a solid performance in the first quarter of 2008 (1Q08) in spite of the negative effects of currency volatility and the pressures on costs generated by the price increases for inputs. In this context, expansion of production and the effort to contain costs were fundamental to achieving strong results.
The main highlights of our performance in 1Q08 were: -- Record shipments of iron ore and pellets in a first quarter: 76.572
million metric tons -- a 15% increase on 1Q07. -- Records for a first quarter in shipments of aluminum (136,000 metric
tons), alumina (833,000 metric tons), cobalt (740 metric tons) and
platinum group metals (86,000 troy ounces). -- Gross revenue of US$ 8.048 billion, 4.8% more than in 1Q07. -- Operational profit, as measured by adjusted EBIT(a) (earnings before
interest and taxes) of US$ 2.915 billion, an increase of 7.9% over
1Q07. -- Adjusted EBIT margin of 37.2% against 36.1% in 1Q07. -- Adjusted EBITDA(b) (earnings before interest, taxes, depreciation and
amortization), of US$ 3.729 billion, an increase of 17.1% relative to
1Q07. -- Net earnings of US$ 2.021 billion, corresponding to earnings per share
on a fully diluted basis of US$ 0.41, a 8.8% reduction on the 1Q07
result of US$ 2.217 billion. -- Investments totaled US$ 1.695 billion, of which US$ 1.304 billion in
organic growth -- R&D and projects -- and US$ 391 million in
sustaining existing operations. -- Delivery of three new projects: the Fazendao iron ore mine in the
Southeastern System, in the state of Minas Gerais, the third Samarco
pelletizing plant in the state of Espirito Santo, and Dalian, a nickel
processing plant in the province of Liaoning, China. -- Dividend distribution of US$ 0.26 per common or preferred share -- US$
1.25 billion -- to be made as from April 30, 2008, corresponding to the
first installment of the minimum dividend for 2008, of which 55% in the
form of interest on equity and 45% in dividends. -- Investment in corporate social responsibility of US$ 155 million, of
which US$ 105 million allocated to environmental protection and
conservation, and US$ 50 million to social projects. DATASOURCE: Vale CONTACT: Roberto Castello Branco, , Alessandra Gadelha, , Patricia Calazans, , Theo Penedo, , or Marcus Thieme, , or Tacio Neto, , all of Vale, +011-55-21-3814-4540 Web site: http://www.cvrd.com.br/ http://www.vale.com/
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